the boy who cried wolf, page-26

Assuming it's $25 million per 35 days then (90 / 35) * 25 = $64 million.

rig cost are not based on such a simple formula. the drill cost not more than 50m including $10 raised via noonan (who must be less than impressed and will be given first dibs on any CR to average down there massive loss)...

either way cash will be a big issue moving forward. hence meo will be firmly in the sights of eni from a T/O position.

meo will try a major CR in january to hold of the beasts. why wouldn't the fat hogs of meo's execs do this to save there overpaid hides. no cash no meo as cash flow is king and meo has no cashflow other than CRs...

i will continue to accumulate MEO at these prices and wait and see if MEO try a CR - they do then i will buy some more shares and continue to average down...

meo's saviour will be eni re-imbursing 454 3d costs but meo will be lucky to hold onto 30 to 50% max for one well. none of this $75 fid stuff...

heron did not flow, blackwood did not flow, 454 is yet to be tested. the only asset meo have is TS. meo are an unncecesary evil to a major player in bringin TS online.

meo will be lucky to surrive. meo's mgt, brave as they have been, have had seveal drill results all land within a fortnight and none come in descimating the SP and shareholder's welath. time for ENI to pick over the bones. lets just hope MEO can get a good price for TS and TS related acerage...